ACR Alpine Capital Research LLC Buys New Position in Talen Energy Corporation (NASDAQ:TLN)

ACR Alpine Capital Research LLC bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,031 shares of the utilities provider's stock, valued at approximately $2,424,000. Talen Energy accounts for approximately 0.1% of ACR Alpine Capital Research LLC's portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TLN. World Equity Group Inc. acquired a new position in Talen Energy in the third quarter worth approximately $237,000. Yacktman Asset Management LP purchased a new position in shares of Talen Energy in the third quarter worth approximately $79,299,000. River Road Asset Management LLC acquired a new stake in shares of Talen Energy during the third quarter valued at approximately $277,653,000. M&G PLC acquired a new stake in shares of Talen Energy during the third quarter valued at approximately $14,797,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Talen Energy in the 3rd quarter valued at approximately $1,398,000. 0.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TLN. Barclays cut their target price on shares of Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a research note on Tuesday. Evercore ISI initiated coverage on Talen Energy in a research note on Friday, February 21st. They issued an "outperform" rating for the company. UBS Group lifted their target price on Talen Energy from $242.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Oppenheimer raised their price target on shares of Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Finally, Bank of America started coverage on shares of Talen Energy in a research report on Monday, February 3rd. They issued a "buy" rating and a $253.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $246.00.

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Talen Energy Trading Down 8.8 %

Shares of Talen Energy stock traded down $17.32 during trading on Thursday, reaching $180.53. 1,863,406 shares of the company were exchanged, compared to its average volume of 1,287,503. The business has a 50-day moving average price of $222.61 and a 200-day moving average price of $181.49. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 2.70 and a beta of 2.00. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a twelve month low of $83.14 and a twelve month high of $258.03.

Insider Buying and Selling

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the sale, the insider now owns 6,475,107 shares of the company's stock, valued at $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.